CHICAGO, Feb. 7, 2020 /PRNewswire/ -- According to the new market research report "Fatty Amines Market by Type (Primary, Secondary, and Tertiary), End Use (Agrochemicals, Oilfield Chemicals, Chemical Processing, Water Treatment), Function (Emulsifiers, Floatation Agents, Dispersants, Chemical Intermediates), Region - Global Forecast to 2024", published by MarketsandMarkets, the Fatty Amines Market is projected to grow from USD 2.9 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 6.5% from 2019 to 2024. The growing demand for agrochemicals in the agriculture industry is driving the growth of the fatty amines market. The growing GDP in the Asia Pacific region due to increasing industrial activities is another key factor that is driving the growth of the fatty amines market across the globe.
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The primary fatty amines segment is projected to lead the fatty amines market in terms of both value and volume from 2019 to 2024.
Based on type, the primary fatty amines segment accounted for the largest share of the fatty amines market in 2018. The primary fatty amines segment is projected to lead the market in terms of both value and volume during the forecast period. Primary fatty amines can be employed in a multitude of applications, such as floatation agents, anticaking agents, corrosion inhibitors, and others, in the fatty amines industry. The growth in this market is mainly attributed to the simpler manufacturing process of primary amines, which requires a lower number of additives in comparison to the other fatty amines (type) segments.
The agrochemicals end use segment is projected to lead the fatty amines market in terms of both value and volume during the forecast period.
Based on end use, the agrochemicals segment led the fatty amines market in 2018 in terms of both value and volume. The growth of this segment can be attributed to the increase in the global demand for nutritious and high-quality food. Furthermore, the surge in global population, as well as the limited availability of arable land, are propelling the demand for the agrochemicals end use segment of the fatty amines market.
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The emulsifiers function segment is projected to lead the fatty amines market in terms of both value and volume from 2019 to 2024.
Based on function, the emulsifiers segment accounted for the largest share of the fatty amines market in 2018. The emulsifiers segment is projected to lead the market in terms of both, value and volume during the forecast period. Growth in this market is mainly attributed to the extensive use of fatty amines as emulsifiers in various end uses such as agrochemicals, chemical processing, personal care, and household.
The fatty amines market in South America is projected to grow at the highest CAGR in terms of both value and volume during the forecast period.
The fatty amines market in South America is projected to grow at the highest CAGR in terms of both value and volume from 2019 to 2024. Brazil, Argentina, Colombia, Chile, and Uruguay are the key countries contributing to the increased demand for waste-water treatment plants and, thus, fatty amines in this region. Factors such as rising agribusiness in the South America region have increased the demand for fatty amines in this region.
Kao Corporation (Japan), Nouryon (Netherlands), Arkema S.A. (France), Lonza Group Ltd (Switzerland), Solvay SA (Belgium), Evonik Industries AG (Germany), Huntsman Corporation (US), Volant-Chem Corp. (China), Global Amines Company Pte. Ltd. (Singapore), India Glycols Limited (India), Indo Amines Limited (India), Procter & Gamble Co (US), ERCA SPA (Italy), Qida Chemical Co., Limited (China), Wuhan Obayer Science Co, Ltd. (China), and Ecogreen Oleochemicals GmbH (Germany) are some of the leading players operating in the fatty amines market. These players have adopted the strategies of expansions, acquisitions, divestments, collaborations, and joint ventures to enhance their position in the Fatty Amines Market.
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